Ebay’s authenticity guarantee has been expanded from just the United States to include Japan, with other key markets expected to join the program this year.
The initiative sees every watch sold for over $2,000 on the platform sent to an authentication specialist who checks it has been correctly described as it makes its way from a seller to a buyer.
“You can buy a watch on eBay from a seller in Japan, a country with great inventory, and you will know that the piece is going through the authenticity guarantee process before it arrives with a customer. That alleviates a lot of the pain from buying from international sellers,” explains Tirath Kamdar, general manager for luxury at eBay.
Authenticity guarantee is part of a broader push by eBay to ensure it becomes the world’s most trusted platform for trading luxury goods.
“2021 will be really exciting. In watches, we are planning to expand the [authenticity guarantee] program and build better experiences. We have a dedicated team with focus and capital who are building and improving that luxury watch offer for eBay buyers and sellers. At the same time, there are other categories in luxury that we want roll out such as handbags and jewelry. These complement watches really well,” says Mr Kamdar.
Despite being headquartered in California, which is enduring some of the lengthiest and hardest lock down measures of any state, Mr Kamdar’s optimism has not been dented by the pandemic.
“The broader luxury market has performed well. The stock market has been strong, people have more disposable income because they have fewer things to spend their money on. There is a lot of positivity right now because vaccines are being rolled out. Folks want to get out and experience life again and the luxury business has been robust, especially when it comes to digital,” he says in an interview for WatchPro‘s Special Report on the auction market, which is published next month.